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Shareholders' Equity
3 Months Ended
Mar. 29, 2019
Stockholders Equity Note [Abstract]  
Shareholders' Equity

8. Shareholders’ Equity

Stock Appreciation Rights (“SARs”)

As of March 29, 2019, the Company had 2.9 million SARs outstanding with an exercise price of $4.00 per share and an expiration date of February 2022.           

Treasury Stock

Under the Company’s share repurchase plan, the Company may repurchase shares of its outstanding common stock either on the open market or through privately negotiated transactions subject to market conditions and trading restrictions. During the three months ended March 29, 2019, the Company repurchased 101 thousand shares of its common stock at an average price of $15.99 per share for a total cost of $1.6 million.  As of March 29, 2019, the Company had a total authorization remaining of $5.3 million under its repurchase plan with a  total authorization of $142.2 million. Subsequent to March 29, 2019, the Company repurchased an additional 82 thousand shares of its common stock at an average price of $15.56 per share for a total cost of $1.3 million.

During the quarter ended March 30, 2018, the Company repurchased 53 thousand shares of its common stock at an average price of $18.33  per share for a total cost of $1.0 million.    

The shares repurchased under the share repurchase plan during the quarter ended March 29, 2019, do not include 123   thousand shares which the Company bought back to satisfy employee net vesting obligations for a cost of $2.4 million.     During the quarter ended March 30, 2018, the Company bought back 175 thousand   shares at a cost of $3.0 million to satisfy employee net vesting obligations.       

Dividend Program

In 2018, the Company increased the annual dividend from $0.30 per share to $0.34 per share to be paid on a semi-annual basis. During the first quarter of 2019, the Company paid its second semi-annual dividend payment to shareholders, which was declared in 2018 of $5.4 million.   Also during the quarter ended March 29, 2019, the Company increased its annual dividend to $0.36 per share to be paid on a semi-annual basis.   Subsequent to March 29, 2019, the Company declared its semi-annual dividend of $0.18 per share for shareholders of record as of June 28, 2019, which is to be paid on July 10, 2019. These dividends were paid from U.S. domestic sources and are accounted for as an increase to accumulated deficit.